In the Pipeline: Senior Housing Construction Projects (9/12/13)

Construction: Planned

Developers Unveil Plans for North Chicago Assisted Living Project

Artis Senior Living, of McLean, Virginia, revealed preliminary design plans for a five-story assisted living building to be located in Chicago’s north side neighborhood of Lakeview, DNAinfo Chicago reports.

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The project plans include a 118-room building located where the old Bert Weinman Ford dealership used to be, a site which Artis bought last year for $3.71 million. 

The center will largely offer assisted living to seniors living with various forms of dementia, with 96 rooms dedicated to memory care and 22 rooms for “general assisted living,” according to Artis.

Plans also feature 26,000-square-feet of retail on the first floor, as well as a rooftop garden and underground parking. 

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Seniors looking to stay at the center can expect to pay around $6,000 to $7,000 a month. 

Artis debuted its plans to West Lakeview Neighbors this week in an effort to seek local feedback before moving forward.

Christian Institution Gets Involved in Senior Housing Plan

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The Moody Bible Institute in Chicago is getting involved in a plan for 106 units of senior housing in the River North neighborhood of the city, Curbed Chicago reports.

Project plans at this stage include a rendered seven-story precast structure alongside the city’s “L” train system. Plans also include a 46-space parking lot and an old garage that would need to be razed.  

Developer’s $46M Construction Plans Include Senior Housing Center 

Auburn Hills, Michigan-based construction company Moceri Cos., plans to develop a $46 million residential project that includes senior housing, Crain’s Detroit Business reports.

Construction on The Parkways project is expected to begin Spring 2014 and includes 76 town homes, 72 flats and a 160-unit senior housing center. 

The development will be constructed in five phases, with the market value of the homes expected to be $75 million. 

North Dakota Revitalization Project Includes Senior Housing Development

Developers look to use $10 million redevelopment funds to transform a former convent and business school in Minot, North Dakota, reports Minot Daily News.

Park South Holdings, LLC, plans to develop the property in three phases, creating 115 housing units for residents age 55 and older.

Phase one of construction involves remodeling the existing 35-unit apartment building, which could be completed by late 2015 or early 2016, according to project investors. 

About half of the units will be affordable housing for those earning less than 80% of the area median income, while the remainder will be market rate. Rents could range between $500 and $850 a month for lower-income residents and $700-$1,200 a month for market-rate units.

Park South Holdings plans to apply for $3 million in tax credits through the North Dakota Housing Incentive Fund later this month.

Construction: In Process

Ohio Developer Breaks Ground on $13.5 Million Senior Living Project

Chancellor Senior Management, a Columbus-based developer, broke ground this week on an 87-unit, $13.5 million project that will be the first of its kind in the Tri-State, reports Ironton Tribune

Wyngate at RiversEdge Senior Living Community will be located in Proctorville, OH., and the only senior living community in Lawrence County.

Of the 87 units, 28 are independent living studios, one-bedroom or one-bedroom deluxe apartments. The other 59 units are assisted living for those with dementia or Alzheimer’s disease. 

Developers Complete Preconstruction of Colorado Affordable Apartments 

Construction manager and general contractor Pinkard Construction, along with Lantz-Boggio Architects, has just completed a six-month reconstruction process in preparation for the fully occupied renovation of Highlands West and South Senior Apartments in Wheat Ridge, Colorado.

Highlands West is a 12-story cast-in-place structure with 120 units, while Highlands South is a 5.5 acre campus with three three-story, wood framed structures totaling 117 units.

Construction is expected to begin in April 2014 following final HUD funding approval.

As part of its reconstruction services, Pinkard provided cost/benefit analyses to enable owner United Presbyterian Association to maximize cash flow by balancing occupancy requirements with construction duration.

Presbyterian Village in Dallas to Receive $87 Million Renovation

Presbyterian Village North senior living community in Dallas, Texas, will receive $87 million for renovations beginning in May, Dallas Business Journal reports

Renovations include new independent living, assisted living, memory care and rehabilitation facilities, along with a state-of-the-art fitness center, a second aquatic rehab center and renovated common areas.

The 550-resident community recently finished renovations to its main dining room, game room and assisted living areas. 

Presbyterian Communities and Services will also operate the $40 million T. Boone Pickens Hospice and Palliative Care Center—the first standalone hospice inpatient care center in Dallas—which is scheduled for a November groundbreaking and 2015 opening.

Luxury $62 Million Senior Community Nears October Opening

Vivante On The Coast, a new $62 million luxury retirement community is on track to open October 15 in Costa Mesa, California, reports Orange County Register

The 185-unit, 200,000-square-foot community broke ground in April 2012 and is primed to be the first new retirement community built in the Newport Beach/Costa Mesa area in 15 years, according to Vivante. 

Vivante is being designed by Nexus Companies headquartered in California, and will be managed by Integral Senior Living. 

Locally-based Newport Beach company Hill Partnership is the project architect, with Austin, Texas-based Studio Six 5 acting as the interior designer. 

The community features multiple dining options, large outdoor courtyards, rooftop decks, a fitness and physical therapy facility with indoor saltwater pool, among other amenities. 

Construction: Completed 

Senior Rental Community Open and Now Leasing in Texas

The Terrace at MidTowne is a 92-unit, rental community for independent seniors age 62 and older in Midlothian, Texas, reports

The community, which includes 66 one-bedroom and one-bathroom apartments, along with 26 two-bedroom/two-bath units, held its grand opening last week with State Rep. Jim Pitts, Midlothian leaders and senior citizens in attendance.

There are also 52 units located in a two-story elevator building that also includes a variety of community spaces and leasing offices. The remaining 40 units are single-story cottage-style units with carports.

The Terrace at MidTowne serves a mixed-income clientele, with 80 of the community’s units structured to have rents affordable to residents with incomes at or below 60% of the area median income for Ellis County. Twelve units are market-rate units.

Austin, Texas-based DMA Companies, who provides affordable and special needs housing across the nation, developed the senior rental community. 

Written by Jason Oliva

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